Local Economy in Manhattan and Industries

Jan. 5, 2010 - PRLog -- Manhattan has been slated as one of the most expensive places to live in the United States, so given this fact, the commercial real estate properties are priced at the top of the national office rental market (that goes for executive suites, serviced units, temporary spaces and conference rooms).

Its main areas of focus are in the realms of commerce, finance and culture. The finance industry is the largest economic contributor to the city which pushes the rental rates on Manhattan office space. Wall Street is another huge job market. The city is home to the headquarters of the United Nations, the New York Stock Exchange and NASDAQ.

Madison Avenue is synonym as the representative for the advertising industry. Seven out of the eight world’s top global advertising agencies are located here. The former Twin Towers, part of the World Trade Center that was attacked in the 9/11 was located here. New Commercial developments are now underway to rebuild the tower to overtake its former glory and will be known as the One World Trade Center.

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